In re Overseas Securities Co.

The petitioner seeks a review of a franchise tax assessed against it -under article 9-A of the Tax Law for the year beginning November 1, 1923.

Section 214-a of this article provides that “ if any business corporation shall acquire * * * the major portion of the actively employed assets * * * of another corporation * * * doing any business in this State during any year * * *. It shall also include in its own next annual return, in addition to its own entire net income, so much of the entire net income of corporations whose assets or franchises it acquired * * * as shall not have been used or…